Flex Ltd. (NASDAQ:FLEX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,400,811 shares of the technology company's stock after selling 692,914 shares during the quarter. Victory Capital Management Inc. owned 3.31% of Flex worth $438,649,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FLEX. Cornerstone Planning Group LLC purchased a new stake in shares of Flex during the third quarter valued at $30,000. CWM LLC grew its stake in Flex by 92.5% in the 4th quarter. CWM LLC now owns 1,609 shares of the technology company's stock worth $49,000 after acquiring an additional 773 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company's stock worth $60,000 after acquiring an additional 1,455 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Flex during the fourth quarter valued at approximately $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Flex in the fourth quarter valued at approximately $77,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of research analyst reports. StockNews.com assumed coverage on Flex in a research report on Wednesday, March 6th. They set a "hold" rating for the company. The Goldman Sachs Group lifted their price objective on Flex from $29.00 to $37.00 and gave the company a "buy" rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Flex from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

Insiders Place Their Bets

In other news, EVP David Scott Offer sold 75,000 shares of Flex stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total value of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares of the company's stock, valued at approximately $4,460,826.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Flex news, insider Michael P. Hartung sold 43,381 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $30.51, for a total value of $1,323,554.31. Following the completion of the sale, the insider now owns 154,810 shares of the company's stock, valued at $4,723,253.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Scott Offer sold 75,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the transaction, the executive vice president now owns 162,094 shares in the company, valued at approximately $4,460,826.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,943 shares of company stock worth $4,055,311. 0.56% of the stock is owned by corporate insiders.

Flex Stock Down 8.1 %

Shares of NASDAQ:FLEX traded down $2.31 on Wednesday, reaching $26.34. The company had a trading volume of 12,630,726 shares, compared to its average volume of 4,914,836. The firm has a market capitalization of $11.09 billion, a PE ratio of 15.80, a PEG ratio of 1.82 and a beta of 1.19. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52-week low of $19.85 and a 52-week high of $30.93. The firm's 50 day simple moving average is $28.50 and its 200-day simple moving average is $26.82.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.10. Flex had a return on equity of 16.24% and a net margin of 2.56%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.73 billion. As a group, analysts expect that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.